Indy Standard

State Rep. Tim O'Brien's initiative to bolster economic development in Evansville and Vanderburgh County has been incorporated into House Bill 1001, which recently passed the Indiana House of Representatives. Originally proposed as House Bill 1451, the legislation aims to enhance funding from the Evansville Professional Sports and Convention Development Area (PSCDA) to support local sports tourism.

O'Brien emphasized the importance of this measure for community growth: "This legislation ensures our community has the development tools needed to support our region, the third fastest growing in the state." He highlighted that increasing the revenue cap would facilitate investments in sports infrastructure and projects like revitalizing the downtown riverfront, thereby attracting visitors and supporting local industries.

Under current law, Evansville's annual capture limit is set at $1.17 million based on its population. The new bill proposes a 15-year plan that raises this limit to $5 million for the first five years, $6 million for the next five years, and $7 million for the final five years. This adjustment could potentially retain $90 million in revenue within the Evansville area.

O'Brien clarified that this proposal does not introduce a new tax but reallocates existing funds that would otherwise go to state revenue. He noted that these resources are crucial for paving future opportunities in Southwest Indiana, including developments like Great Bend Park.

The bill successfully passed through the Ways and Means Committee before gaining approval from the full House of Representatives. It now awaits further deliberation in the Senate.

For more details on HB 1001 or to follow legislative proceedings, visit iga.in.gov.